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Cuda Oil and Gas Inc. Announces Change of Auditor

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Calgary, Alberta–(Newsfile Corp. – October 31, 2018) – Cuda Oil and Gas Inc. (TSXV: CUDA) (“Cuda” or the “Company“) announces that it has changed its auditor from Raymond Chabot Grant Thornton LLP (the “Former Auditor“) to KPMG (the “Successor Auditor“) effective October 15, 2018 as a consequence of the Plan of Arrangement between Cuda Energy Inc. and Junex Inc. The audit committee and the board of directors requested that the Former Auditor resign as auditor effective October 15, 2018 to facilitate the appointment of the Successor Auditor as the Company’s new auditor effective until the next annual general meeting.

The Company has sent a Notice of Change of Auditor (the “Notice“) to the Former Auditor and to the Successor Auditor and has received a letter from each addressed to the Alberta Securities Commission stating that they agree with the statements contained in the Notice. The Former Auditor confirms there are no reportable events, including disagreements, consultations or unresolved issues between Cuda and the Former Auditor.

The Notice along with the letter from the Former Auditor and the letter from the Successor Auditor have been reviewed by the Company’s audit committee and the board of directors and are available on SEDAR at www.sedar.com.

About Cuda Oil and Gas Inc.

Cuda Oil and Gas Inc. is engaged in the business of exploring for, developing and producing oil and natural gas, and acquiring oil and natural gas properties across North America. The Cuda management team has worked closely together for over 20 years in both private and public company environments and has an established track record of delivering strong shareholder returns. Cuda will continue to implement its proven strategy of exploring, acquiring, and exploiting with a long-term focus on large, light oil in place resource-based assets across North America including significant operational experience in the United States. The Cuda management team brings a full spectrum of geotechnical, engineering, negotiating and financial experience to its investment decisions.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Cuda Oil and Gas Inc.

For further information:

Ronald J. Purvis
Chief Financial Officer
Cuda Oil and Gas Inc.,
(403) 863-8188

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.